IMF paper finds less tail risk in immediate aftermath of QE
Tail risk diminishes in the immediate aftermath of unconventional monetary policy (UMP) measures, according to new research by the International Monetary Fund (IMF).
"This is strong evidence supporting the view that policy-makers achieved one of their objectives when embarking on UMP, namely a reduction in market uncertainty that could contribute to an easing in financial conditions," Shaun Roache and Marina Rousset concludes in their working paper Unconventional Monetary Policy and Asset Price
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